For taxable years beginning after 1/1/2027, establishes a nonrefundable income tax credit for certain agricultural investment costs incurred for agricultural activities conducted on Hawaiian home lands. Effective 7/1/2050. (SD1)
Appropriates funds to the Department of Land and Natural Resources to demolish and remove the Country Club Apartment Building and related structures and utilities located at 121 Banyan Drive, Hilo, Hawaii, on the parcel designated as tax map key: (3) 2-1-005:020. Effective 7/1/2050. (SD1)
Effective 1/1/2028, requires corporations to include in their income the income of all foreign subsidiaries to the State; applies the State's apportionment formula to determine the share of reported profits subject to the appropriate tax, which shall be deposited into the state general fund; and requires corporations to report all profits, losses, revenues, and inter-company transactions made and all taxes paid in other states. Establishes penalties for violations. Effective 7/1/2050. (SD1)
Establishes a nonrefundable individual income tax credit for a certain percentage of expenses paid to retrofit a residence with wind resistive devices or to purchase, install, or construct, a hurricane shelter on the taxpayer's property. Reduces the general excise tax rate on the gross proceeds or income from the sale of a concrete high-rise certified hurricane-resistant residential project or certain hurricane-resistant components of the project. Applies to taxable years beginning after 12/31/2026. Sunsets 12/31/2030. Effective 7/1/2050. (SD1)
Appropriates funds for the planning, designing, environmental studies, site evaluation and selection studies, and permitting conducted relative to a new facility for the State Archives. Effective 7/1/2050. (SD1)
Establishes a nonrefundable Workforce Builder Tax Credit for employers who employ qualified interns and apprentices, to be applied to taxable years beginning after 12/31/2026. Requires a report to the Legislature. Appropriates funds. Effective 1/1/2077. (SD1)
Requires the Hawaii Community Development Authority to establish a Community Action Center in Chinatown. Expenditure contingent upon the City and County of Honolulu providing matching funds. Appropriation. Effective 7/1/2050. (SD1)
Renames the Beach Restoration Special Fund as the Beach Preservation and Restoration Fund. Establishes the Special Subaccount of the Special Fund. Requires that all conveyance tax revenues collected from the conveyance or transfer of real property located in whole or in part in a sea level rise exposure area be deposited into the special subaccount of the Special Fund. Allows funds in the special subaccount of the Special Fund to be used to acquire property. Effective 7/1/2050. (SD1)
Appropriates funds for Department of Hawaiian Home Lands projects eligible for general fund revenues that are generated by increases in transient accommodations tax collections and intended to be expended equally across projects related to natural resources, climate resilience, and destination management.
Appropriates funds to the Department of Hawaiian Home Lands for contracted services for the assessment and inventory of the Molokai Irrigation System.